MOLPay Sdn. Bhd. is making move to virtualize the payment processing system in Malaysia by introducing CIMB Virtual Account to merchants.

Merchants who activate CIMB Virtual Account can now flexibly choose to open virtual accounts per customer to take a better look at the incoming transactions. Additionally, this new service will also help merchants to open a new customer segment who prefer to pay through virtual account, which is convenient for both sides.

For customers who want to pay via a virtual account, they will be given a Virtual Account number and the transfer of fund can be done directly to the assigned account number by using ATM transfer and internet banking.

The ability to generate the unique Virtual Account numbers to customers enable merchants to reduce the number of unidentified transaction. Merchants can identify each incoming transaction easily without having to double-check the customer’s payment status.

The transaction information is recorded and acquired real-time, similar to how it does in a normal transaction. The money movement of those who use Virtual Account is also similar to a normal transaction.

MOLPay is encouraging merchants to use the Virtual Account service as one of the payment methods that they can offer to the customers. Merchants will be able to have a time and cost-efficient business environment when they can effortlessly track with the unique Virtual Account number.

From now on, merchants can easily integrate CIMB Virtual Account to their business by signing up for MOLPay and request for the activation of the CIMB Virtual Account to their business. The easy integration process should be able to help merchants in setting up a whole new payment ecosystem which will serve customers better.

To find out more about payment method for your business, contact MOLPay. We are very happy to assist you.